Discover the perfect investment gem in the heart of Marquette! This impressive 52-unit apartment building is situated in an unbeatable location, just steps from NMU and the breathtaking Lake Superior. With low rents that are on the rise and a solid base of long-term tenants, there's immense potential for income growth. Boasting a remarkable 0% vacancy rate and a waiting list, this opportunity is truly extraordinary. The three-story building features charming top-floor units with fireplaces (non-working) and balconies, while the lower level is designed for accessibility, complete with a wheelchair ramp and three handicap apartments. A mix of 51 two-bedroom units generating rental income and a three-bedroom manager's unit, alongside a well-maintained infrastructure with a recent roof, freshly painted exterior, and added vinyl siding, this property is ready to shine. Additional perks include a manager's office, an attached workshop, and two sheds for lawn and snow maintenance equipment. Seize this exceptional opportunity and elevate your investment portfolio today!
Property Details
Property Features
Property Information:
Architectural Style: Contemporary
Year Built: 1977
Stories: 2
Living Area: 51,408 SqFt
Listing Office:
Office Name: SELECT REALTY
Office Phone: (906) 228-2772
Listing Agent: SHERRY MCCARTHY
Interior Features
Interior Information:
Appliances: Range, Oven, Refrigerator
Basement: Yes
Interior: Security System
Bedroom and Bathroom Information:
Full Bathrooms: 52
Total Bedroom Count: 105
Exterior Features
Exterior Information:
Waterfront: None
View: None
Exterior: Wheelchair Access, Sidewalks, Storms/Screens, Street Lights, Exterior Balcony
This property is $5.6M more than the Median Sold Price and $187/SqFt less than other homes in Marquette, MI.
Based on homes sold in November 2024
MLS Details
MLS Information:
MLS Name: Upper Peninsula Assoc of Realtors
MLS Number: #50162352
Listing Office:
Office Name: SELECT REALTY
Office Phone: (906) 228-2772
Listing Agent: SHERRY MCCARTHY
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.
Copyright 2024 MiRealSource. All rights reserved. The information provided hereby constitutes proprietary information of MiRealSource, Inc. and its shareholders, affiliates and licensees and may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, scanning or any information storage and retrieval system, without written permission from MiRealSource, Inc.
The information published and disseminated by the Originating MLS is communicated verbatim, without change by the Originating MLS, as filed with it by its members. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 12/18/2024, 8:21:07 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
$34,908
$847,000
2020
$35,486
$854,600
2019
$1,532
$643,500
2018
$33,987
$695,500
2017
$33,867
$663,700
History based on county public records data.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
7
/10
Graveraet Elementary School
611 N Front St
Distance between this listing and this school1.13 miles
Public District Grades KG-5
8
/10
Sandy Knoll School
401 N 6th St
Distance between this listing and this school1.22 miles
Public District Grades PK-5
6
/10
Superior Hills Elementary School
1201 S McClellan Ave
Distance between this listing and this school2.39 miles
Public District Grades PK-5
Nearby Schools
6
/10
Bothwell Middle School
1200 Tierney St
Distance between this listing and this school2.30 miles
Public District Grades 6-8
7
/10
Negaunee Middle School
102 W Case St
Distance between this listing and this school11.08 miles
Public District Grades 5-8
6
/10
Ishpeming Middle School
324 E Pearl St
Distance between this listing and this school13.83 miles
Public District Grades 5-8
Nearby Schools
8
/10
Marquette High School
1203 W Fair Ave
Distance between this listing and this school1.07 miles
Public District Grades 9-12
3
/10
Vandenboom Alternative High School
1175 Erie Strert
Distance between this listing and this school1.93 miles
Public District Grades 9-12
5
/10
North Star Academy
3030 Wright St
Distance between this listing and this school3.06 miles
The neighbors living near this home have an average income of $20,708. The most common annual income of people living in Marquette, MI is less than $35k. Typical family type is single, no kids. The majority of residents in this area have post secondary degree education.
All data provided by Home Junction and Claritas
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This home is located at 1950 Presque Isle Ave in Marquette, MI and zip code 49855. This 51,408 square foot home, which was built in 1977, sits on a 1.61 acre lot. Features: 105 bedrooms, 52 bathrooms. It has been listed on Rocket Homes since December 04, 2024 and is currently priced at $6,000,000.
Over 9 listings were sold over their listed price in November 2024 in Marquette, MI. In the same period over 9 listings were sold below the listed price and 1 listings were sold for the listed price. In November 2024 in Marquette, MI there were 9.8% less homes for sale than in October 2024. In November 2024, listings were on the market for 33 days. During the same period, the median list price in this real estate market was $389,000.
From Rocket Homes Real Estate and based on county public records data.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. 
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